We called our lender a while back and they said we can't refinance through them (it was a first-time homebuyer's program). I do like the safety of having a loan through them (they offer programs like reduced mortgage pymts during the winter so people can pay for heat so they are clearly flexible and want to keep people in their homes!)
Our house is worth about 2/3 of what we paid for it. So selling it isn't an option even if we wanted to, though we would definitely consider relocating if it were an option!!
We bought about 4 years ago I think. We had a 'good' (at the time) interest rate but just 1% lower rate would save us $50K over the course of the loan and $200/mo.
We are not in default and we do have savings, but my DH was laid off and has been unemployed for months and has no good prospects yet. We spend so little money so that we can have that savings and not go into debt, you know?? Half the stuff we own came from curbside on trash day. It would be nice to have a bit more breathing room and a lower interest rate would REALLY help, but it's not like we *can't* make our payments so I don't know whether we'd qualify for the hardship programs. We also have student loans but no other debt.
I guess I just want to see if there's any way to take advantage of all the programs out there that claim to help in this horrible economy but I can't seem to find any solid info and don't want to get ourselves into an even worse situation. And we are nervous about assessments because we... uhhh... we may have done work without a permit (don't ask...) and the house isn't even finished. But we just want to get ahead a bit and I don't see how that's possible with our state's super-high unemployment rate & super-low housing prices...